OFFICE INFORMATION

• About Us
• News
• Unclaimed Property
• Cash Management
• Revenue Sharing
• Debts & Bonds
  • Maine Debt Summary
  • State Bond Process
  • Redeeming Bonds
  • Purchasing Maine Bonds
  • Bond Ratings
  • Bonds on the Ballot
  • Bond Projects
  • Official Statement Archives
• Requests for Proposals
• Education Savings
• Agricultural & Commercial Loan Programs
• TeachME Financial Literacy

State Bond Process

1. Borrowing proposals are brought to the legislature.
2. The Legislature selects and the Governor approves projects they believe should be funded from money borrowed through general obligation (G.O.) bonds.
3. A statewide election is held to authorize or reject the bond proposals.
4. The Treasurer solicits and aggregates the requests made by each project manager and issues Bond Anticipation Notes (BANS) to provide the stream of funding needed for each project.
5. The Treasurer will structure and issue bonds, usually in June, to repay the BANS and to consolidate the new debt into a single bond package.
6. The Treasurer tracks the borrowing and spending lines for each project.
7. The Treasurer makes payments from state revenues to bond purchasers until debt is paid.